Al Rajhi Bank shares hit highest level since debut

Logo of Al Rajhi Bank

Shares of Al Rajhi Bank closed today's trading session 3% higher at SAR 149.40, their highest since debut, according to data available on Tadawul.

Nearly 6.4 million shares were traded.

Accordingly, the stock rose more than 100% year-to-date (YTD).

Al Rajhi Bank was founded in 1957. The various individual establishments carrying its name were merged in 1978 under the umbrella of Al Rajhi Trading and Exchange Corporation. The bank was established as a Saudi joint stock company in 1988.

The first branch for men was opened in Aldirah district, Riyadh, in 1957, and the first women branch was inaugurated in 1979 in Al-Shumaisi district, Makkah.

Al Rajhi Bank is committed to Shariah-compliant investment as well as banking products, both locally and internationally, for itself or third parties.

The bank's shares were listed on the Saudi Stock Exchange (Tadawul) on Dec. 1, 1988, according to data on Tadawul.

Al Rajhi Bank increased its capital six times via bonus share distributions to finally reach SAR 25 billion. 

The General Organization of Social Insurance (GOSI) is the major shareholder in Al Rajhi Bank, as it owns a stake of 9.61%.